Design and Preliminary Testing of a Multi-Use 3D-Printed Splint for Wilderness Medicine

Splinting devices are commonplace in emergency medicine, as musculoskeletal and soft tissue injuries account for a majority of nonfatal events in wilderness medicine. Current splint designs, such as the SAM splint, sacrifice site-specific stability for their portability. This leads to the need for a similarly portable, but more securely fitting splint device. This design aims to provide a lightweight, multi-use, reusable, biodegradable, and inexpensive solution for splinting in wilderness medicine. A thin plate constructed of polylactic acid extruded from a 3D printer becomes easily malleable after submersion in hot water and can be form fitted to almost any location on the body. After use, it may be resubmerged in hot water and will return to its original flat shape for easy storage

Efficiency and Expense Preference in Philippines' Cooperative Rural Banks

This paper attempted to test whether efficient cooperative rural banks (CRBs) have a better control of their agency costs. We used two different concepts of efficiency, namely, cost efficiency and alternative profit efficiency, and found somewhat different results from both approaches. Using Stochastic Frontier Approach and Distribution Free Approach, we tested two different propositions. The first proposition is that an adequate corporate governance scheme should improve efficiency of CRBs. We failed to find very conclusive evidence that corporate governance theories apply to the Philippines’ CRBs. However, the results confirmed both managers’ compensation theory and large stakeholders theory. The second proposition is that agency costs should reduce efficiency of CRBs, and we found a much clearer relationship on that issue. As expected, most efficient CRBs are characterized by a better control of agency costs. These results are in accordance with previous studies on shirking behavior among mutual financial intermediaries. We also found that rural CRBs are most profit-efficient, despite their somewhat regular cost-efficiency, a manifestation that they are able to charge higher fees for the quality of services they offer. Large CRBs are not able to pass their higher costs to customers through higher fees. We found that small CRBs might have a better interest rate policy, that is, they offer lower rates on both loans and deposits.Agency costs, Corporate Governance, Stochastic Cost Function, X-Efficiency

The Power of Networks: Integration and Financial Cooperative Performance

The purpose of this paper is to perform a cross-country survey of the level of integration of systems of financial cooperatives (FC) and its effect on measures of performance. We develop a classification scheme based on a theoretical framework that builds on published work using transaction cost economics (TCE) to explain integration of large numbers of financial cooperatives into networks. We identify three critical level of increasing integration we call respectively atomized systems, consensual networks and strategic networks. Further, we test some of the propositions that result from the theoretical framework on an international sample of financial cooperative systems. Based on this analysis we can conclude that: i) Integration is less (more) important is developing (more developed) countries and for very small (large) financial cooperatives as a determinant of efficiency. However, integration tends to reduce volatility of efficiency and performance regardless of development. ii) Integration appears to help control measure of managers' expense preferences that tend to affect performance of FC. iii) Despite high costs of running hub-like organizations in highly integrated system, these systems economize in bounded rationality and operate at lower costs that less integrated systems.Transaction cost economics, financial cooperatives, credit unions, networks, corporate governance, technical efficiency, x-efficiency

Theory and Test on the Corporate Governance of Financial Cooperative Systems: Merger vs. Networks

This paper presents a study of the economic organization of systems of financial cooperatives (FC). The first part presents a theoretical framework rooted in principles of transaction cost economics (TCE) that seeks to explain empirical regularities observable in systems of FC worldwide. The second part is an empirical study that compares X-efficiency between members of the Quebec Desjardins movement (DM) and the United States Credit Union system (USCU), the first organized as a tight network of institutions and the second composed largely by independent institutions with few ties. The fundamental proposition is that networks, are a superior form of governance mechanism (over markets and mergers) for relatively wide and relevant ranges of contractual hazard and size of the institutions. Further, that networks provide substitute, hierarchy based, control mechanisms when size of the institution dilutes internal governance mechanisms, discouraging subgoal pursuits and expense preferences by agents, both occurring in large FC. The theory allows us to generate a set of testable hypothesis of which we highlight three: i) For small FC, differences in efficiency will be relatively small, if any. ii) Large institutions should display systematically lower efficiency than similar sized FC members of strategic networks. iii) Networks should display lower variance in the size as well as in performance indicators. Throughout, empirical results are consistent with our central theoretical proposition.Transaction cost economics, financial cooperatives, credit unions, networks, corporate governance, technical efficiency, X-efficiency

Effecting Efficiency to Sustain MFIs: The Case of Cooperative Rural Banks

To be of continuous and reliable service to poor families with small businesses, microfinance institutions (MFIs) must operate in a sustainable manner. This means that MFIs must be managed efficiently. In this regard, this Policy Notes analyzes the extent of the efficiency of MFIs and the factors affecting such efficiency. The aim is to provide better information to regulatory agencies in regulating and supervising MFIs.microfinance institutions, cooperative rural banks

Et si la main invisible avait le pouce vert ? Aperçu historique sur le développement de « boucles industrielles » dans les économies de marché

Selon nombre de théoriciens du développement durable, la recherche du profit aurait souvent incité les industriels à « externaliser » leurs émissions polluantes plutôt qu’à en réduire l’impact. Plusieurs écrits publiés entre le milieu du dix-neuvième siècle et la naissance du mouvement écologiste moderne suggère au contraire que la conjugaison du système des prix, de la recherche du profit et du droit de propriété a favorisé la valorisation des résidus industriels et, par le fait même, l’amenuisement des problèmes environnementaux. Cet article présente un survol rapide des principaux ouvrages de synthèse européens et nord-américains sur cette problématique afin d’illustrer l’universalité de ce processus. Quelques hypothèses sur l’origine de croyances contraires aujourd’hui prépondérantes dans le discours environnementaliste sont finalement suggérées.According to several sustainable development theorists, the search for increased profitability has often enticed industrialists to « externalize » rather than reduce their polluting emissions. Numerous books and essays published between the middle of the nineteenth century and the birth of the modern environmental movement suggest to the contrary that the combined effects of the price system, the profit motive and property rights resulted in the development of valuable by-products out of polluting emissions, in the process reducing environmental harm from industrial activities. This essay provides a brief overview of the main European and North American compendiums on the topic in order to illustrate the universal character of this process. A few hypotheses as to the origins of now prevalent contrary beliefs are finally suggested.Según varios teóricos sostenibles del desarrollo, la búsqueda para lo beneficioso creciente ha tentado a menudo a industriales para hacer externo más bien que reduce sus emisiones de la contaminación. Los libros numerosos y los ensayos publicaron entre el centro del diecinueveavo siglo y el nacimiento del movimiento ambiental moderno sugiere por el contrario que los efectos combinados del sistema del precio, del motivo de beneficio y de las derechas de característica dieran lugar al desarrollo de subproductos valiosos fuera de emisiones de la contaminación, en el proceso que reduce daño ambiental de actividades industriales. Este ensayo proporciona una breve descripción de los compendios europeos y norteamericanos principales en el asunto para ilustrar el carácter universal de este proceso. Algunas hipótesis en cuanto a los orígenes de la creencia contraria ahora frecuente finalmente se sugieren

Music, Padlocks and the Commons

Depuis l’avènement des formats de compression numérique et des services d’échange point à point (Peer-to-Peer) comme Napster, l’industrie du disque est en émoi. Plus fondamentalement, il y a lieu de se questionner sur ce qui apparaît comme une crise d’efficacité du droit d’auteur. Si les copistes semblent avoir pris de court de puissants intérêts, les contre-mesures ne sauraient tarder à venir. L’apparition de protections techniques ­ Trusted Systems ­ présage une ère de contrôle total par les titulaires de droits. L’«hyper efficacité» bouleversera le rapport à l’œuvre, entraînant du même souffle un déséquilibre dans les dimensions privée et publique du droit d’auteur.Since the advent of the digital compression formats and Peer-to-Peer transaction services like Napster, the recording industry is in a state of disarray. Fundamentally, there is reason to reflect on what appears to be a copyright efficacy crisis. While the copyists seemed to have gained an upper hand against some powerful interests, countermeasures are in the wake. The foreseeable implementation of secured formats, so-called Trusted Systems, portends an era of total control by the titleholders. ‘Super efficacy’ will radically change in relation to the work, compromising the balance struck between the private and public dimensions of copyright law

The Growing Imbalance: Recent Trends in U.S. Postsecondary Education Finance

Compares trends at public, private, and research institutions in enrollment, revenues, and spending as well as their effect on bottom lines; analyzes widening disparities; and considers implications for improving the affordability of higher education